NEWS ER
Arcutis Biotherapeutics reported strong Q2 2024 financial results, with net product revenues of $30.9M for the ZORYVE franchise, representing a 547% increase year-over-year and 43% growth quarter-over-quarter. The company saw improved gross-to-net (GTN) margins, now in the high 50% range. Arcutis entered a co-promotion agreement with Kowa Pharmaceuticals to expand ZORYVE's reach in primary care and pediatric offices. They also submitted an sNDA for ZORYVE foam for scalp and body psoriasis treatment. The company amended its $200M term-loan, improving financial flexibility. Despite strong sales growth, Arcutis reported a net loss of $52.3M for Q2 2024, with cash and equivalents of $363.1M as of June 30, 2024.
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